ABUJA, Nigeria (BG) – President Bola Ahmed Tinubu has signed Nigeria’s N54.99 trillion ($36.6bn) 2025 budget into law, marking a substantial increase from the N27.5 trillion budget of the previous year.
The signing took place Friday at the Presidential Villa in Abuja, attended by key government officials, including Senate President Godswill Akpabio and House Speaker Tajudeen Abbass.
Tinubu described the budget as a “bold, ambitious, and necessary” step toward economic recovery and growth.
“We reaffirm our commitment to securing our future, rebuilding prosperity, and ensuring that every Nigerian shares in the dividends of governance,” he said.
He highlighted significant economic improvements, including increased revenue from N12.37 trillion to N21.6 trillion and a reduction in the budget deficit from 6.2% in 2023 to 4.17% in 2025.
He also pointed to forex reforms that have “restored investor confidence” and infrastructure projects such as the Lagos-Calabar Coastal Highway and Sokoto-Badagry Superhighway.
Despite these achievements, Tinubu emphasized the need for fiscal responsibility. “We cannot spend what we do not have,” he said.
“While we have significantly reduced the deficit, we must ensure that we back every naira spent with actual revenue.”
He pledged to expand government earnings, strengthen public-private partnerships, and attract foreign investments.
The president also addressed legislative collaboration, stating that his administration would work with the National Assembly to refine budget amendments.
“A budget is not just numbers—it is a promise, and we must honour it with discipline,” he said.
He expressed optimism about Nigeria’s economic trajectory, noting a 3.86% GDP growth in late 2024, the fastest in three years.
